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StumbleDeutsche Post AG buys Airborne Inc.
Tuesday, March 25, 2003 | 9:42 a.m.
German postal service Deutsche Post AG said today that its DHL express mail arm will buy rival Airborne Inc. for $1.05 billion to sharpen its challenge to the larger U.S.-based package carriers FedEx Corp. and United Parcel Service Inc. Europe's biggest mail company agreed to pay $21.25 a share under the takeover agreement, which excludes Seattle-based Airborne's aircraft.
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